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Etisalat abroad: Making money and paying fines

A story on fines imposed on Etisalat’s Nigerian affiliate describes its international reach (without mention of the Sri Lankan affiate):

It is easy to see why the company continues to look outside its home market despite the risk of complications. Pressed by Dubai’s agile operator, du, Etisalat has seen eroding domestic profits and market share.

Meanwhile, revenues from the company’s international operations, driven by strong performance in Saudi Arabia, Nigeria and Afghanistan, grew 21 percent in the first quarter of 2012, compared with the same period last year. Etisalat’s international gains helped first-quarter total revenue rise 2 percent to 8.2 billion dirhams, or $2.23 billion, offsetting a 2.6 percent drop in domestic revenue to 6.09 billion dirhams.

In Africa, Etisalat also has operations in Sudan, Egypt and Tanzania, as well as Ivory Coast. International revenues account for about 28 percent of total sales.

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